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Samsung Ventures backs mobile security business Fixmo

23 Jan 2013

mobile_lrgSamsung Ventures has become the second corporate venture capital arm in six months to invest in mobile security company Fixmo.

The company took its total fundraising to more than $30m following an investment from Motorola Solutions Venture Capital in August last year, although details of Samsung’s investment were not released.

Fixmo said it would use the latest funding to advance R&D in mobile device integrity verification, data loss prevention, risk analytics and trusted mobile computing.

The company’s products are used by government agencies and other customers around the world to secure and manage their mobile devices, business applications and private data across company-owned and employee-owned (BYOD) smartphones and tablets.

Hyuk-Jeen Suh, Senior Investment Manager with Samsung Ventures America, said, “Secure enterprise mobility, BYOD and personal privacy protection are some of the most important and exciting areas in the telecommunications market.

“Fixmo is poised to deliver next-generation solutions that help IT departments, business professionals and consumers remain secure and protected while embracing the next wave of mobility technology trends.”

Earlier this month it emerged security software developer FireEye had sealed a $50m expansion funding round from investors including Sequoia Capital, Goldman Sachs, Norwest Venture Partners, Silicon Valley Bank and network infrastructure company Juniper Networks.

The company also made six new appointments including Ken Gonzalez as vice president of corporate development, Manish Gupta as senior vice president of products and Tony Kolish as senior vice president of customer services

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